THE PURCHASING POWER of oil will remain in the hands of the Government.
Minister of Industry and Commerce Donville Inniss yesterday gave the assurance against a background of the pending acquisition of the state-owned Barbados National Terminal Company Limited (BNTCL) by Sol, whose competitor Rubis Caribbean has expressed monopoly concerns about the deal.
The Fair Trading Commission has stepped in to investigate the proposed sale. Sol is willing to pay US$100 million, $28 million more than the Rubis offer.
While addressing the grand opening of Platinum Motors at its new Fontabelle, St Michael location, Inniss said he was in support of the sale and that members of Cabinet, including Prime Minister Freundel Stuart, received information about the BNTCL sale. (TSG)
Please read the full story in today’s Daily Nation, or in the eNATION edition.